StreetCred supports you in saving for your child’s future. We know you have big dreams for your kids and that raising them is financially stressful. We want to help you reach your goals! If your child is a primary care patient at Boston Medical Center's pediatric clinic, we can help you take advantage of this financial service opportunity.
Enrollment in 529 college savings accounts takes 15-20 minutes. The benefits of 529 accounts:
- Get started on your higher educational goals for your child
- Money can be used for many educational purposes:
- K-12 tuition expenses ($10,000 per year)
- Certain apprenticeship programs
- College costs including tuition and fees, books and supplies, room and board, and special needs services.
- Repayment of qualified student loans up to $10,000
- Get $50 free from the state of Massachusetts if your child is < 1 year old and born after January 1st, 2020, or was adopted less than 1 year ago
- No taxes
- Invested in index funds to help your money grow faster than in a regular savings account
- You will never owe money on the account
- Won’t affect your eligibility for other resources like SNAP or WIC
- Data show having an account can help your child's academic performance and social-emotional development